OLD National Bancorp IN Buys 930 Shares of Analog Devices, Inc. (NASDAQ:ADI)

OLD National Bancorp IN grew its stake in Analog Devices, Inc. (NASDAQ:ADI) by 6.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,607 shares of the semiconductor company’s stock after acquiring an additional 930 shares during the quarter. OLD National Bancorp IN’s holdings in Analog Devices were worth $3,103,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in Analog Devices in the third quarter worth $28,000. Archer Investment Corp lifted its holdings in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares in the last quarter. Peterson Financial Group Inc. bought a new position in shares of Analog Devices during the third quarter valued at $43,000. Reston Wealth Management LLC bought a new position in shares of Analog Devices during the third quarter valued at $48,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Analog Devices during the third quarter valued at $80,000. 86.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Truist Financial upped their price target on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 10th. TD Cowen lowered their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Barclays reduced their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Finally, Piper Sandler reduced their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $248.70.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.31% of the stock is owned by corporate insiders.

Analog Devices Price Performance

NASDAQ:ADI opened at $212.40 on Friday. The firm has a market capitalization of $105.37 billion, a price-to-earnings ratio of 64.56, a PEG ratio of 2.57 and a beta of 1.05. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $244.14. The business has a 50 day simple moving average of $216.50 and a 200-day simple moving average of $221.67. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the company earned $2.01 EPS. Analog Devices’s quarterly revenue was down 10.1% compared to the same quarter last year. Equities analysts forecast that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Monday, December 9th. Analog Devices’s dividend payout ratio is currently 111.85%.

Analog Devices Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.